A corporation has 272 accounts receivable in a particular category. A random sample of 50 of them

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A corporation has 272 accounts receivable in a particular category. A random sample of 50 of them was taken. The sample mean was $492.36, and the sample standard deviation was $149.92.
a. Find a 99% confidence interval for the population mean value of these accounts receivable.
b.
Find a 95% confidence interval for the total value of these accounts receivable.
c.
Without doing the calculations, state whether a 90% confidence interval for the population total would be wider or narrower than the interval found in part b. Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...
Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...
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Statistics For Business And Economics

ISBN: 9780132745659

8th Edition

Authors: Paul Newbold, William Carlson, Betty Thorne

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